PNC Financial Services Group Inc. Has $6.14 Million Stock Position in Waters Co. (NYSE:WAT)

PNC Financial Services Group Inc. cut its stake in shares of Waters Co. (NYSE:WAT) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,058 shares of the medical instruments supplier’s stock after selling 1,573 shares during the period. PNC Financial Services Group Inc.’s holdings in Waters were worth $6,139,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its position in shares of Waters by 3.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 851 shares of the medical instruments supplier’s stock worth $306,000 after buying an additional 31 shares during the period. Linscomb Wealth Inc. raised its position in shares of Waters by 0.4% in the 2nd quarter. Linscomb Wealth Inc. now owns 7,841 shares of the medical instruments supplier’s stock valued at $2,275,000 after acquiring an additional 34 shares during the period. Johnson Investment Counsel Inc. boosted its stake in Waters by 3.2% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,084 shares of the medical instruments supplier’s stock worth $314,000 after acquiring an additional 34 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in Waters by 3.0% during the second quarter. Summit Trail Advisors LLC now owns 1,170 shares of the medical instruments supplier’s stock valued at $339,000 after purchasing an additional 34 shares during the period. Finally, Retirement Systems of Alabama increased its stake in Waters by 0.3% in the second quarter. Retirement Systems of Alabama now owns 13,087 shares of the medical instruments supplier’s stock valued at $3,797,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 94.01% of the company’s stock.

Waters Price Performance

NYSE WAT opened at $373.47 on Friday. Waters Co. has a 12-month low of $273.60 and a 12-month high of $393.38. The firm’s 50 day moving average is $354.04 and its 200-day moving average is $331.99. The company has a market capitalization of $22.18 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 6.74 and a beta of 0.97. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 1.14.

Waters (NYSE:WAT) last issued its quarterly earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, topping the consensus estimate of $2.68 by $0.25. The firm had revenue of $740.30 million for the quarter, compared to analysts’ expectations of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.84 EPS. Equities research analysts anticipate that Waters Co. will post 11.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WAT. Barclays lifted their price target on shares of Waters from $330.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, November 4th. Leerink Partners upgraded Waters from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $325.00 to $375.00 in a report on Thursday, August 1st. Wells Fargo & Company increased their price target on Waters from $380.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Cfra set a $389.00 price objective on Waters in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $365.85.

Waters Company Profile

Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments: Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.